Spending Money You Don’t Have (2)

Thanks to those of you who wrote great comments to Spending Money You Don’t Have. (If the rest of you have the time please take a minute and read those remarks.) I think we can all agree that this is a difficult, yet important subject. And we’re all still learning, aren’t we? Speaking for myself, I know I understand the principle more or less perfectly, but in theory it’s a different matter. Let’s just say that at times I have, like many of you, learned the heard way. But in retrospect, those experiences have been good too - as long as I try to learn from them.

I also wrote a comment to the aforementioned post. It’s too long to post again, but I am summarizing it here with the following thoughts:

The happiest moments in life are not the costliest.

Control your money, or it will control you.

Today’s “standard of living” is not to be synonymously defined as “standard of happiness”.

There are no shortcuts! The only likely positive effect from gambling halls or lottery tickets is a fleeting thrill. But it is just that: fleeting. The sure positive effect from a pay check resulting from honest, hard work is personal satisfaction and lasting joy.

If we fail to balance our budget we face the danger of being pulled overboard into the currents of debt and economic dependency.

Finally, here is a wonderful quote from the talented Garth Brooks:

“Happiness isn’t getting what you want, it’s wanting what you got.”

Spending Money You Don’t Have

This is my answer to government policy that we need to spend more and more money to boost our national economy, even though it means joining the crowd of bankrupt millions who are treading water just to stay alive. It’s a quote by Will Smith.

“Too many people are spending money they haven’t earned, to buy things they don’t want, to impress people they don’t like.”

For a lack of a better word, I would say that this is one of the great evils of modern society, that we feel more or less forced to spend money we don’t even have. Every day companies and advertisers play the game of lets-see-who-we-can-trick-today. And we fall for it. My “favorite” one is: “Get your flat screen today, pay for it next year!” Not to mention the offers that fall into our mailbox at least once a week to get this or that credit card or bank loan, and everything is practically given away for nothing.

Wow, we think to ourselves, what a deal! So well are we tricked - although it should be easy to see the deception - that we are shocked when the bill finally comes, and we have to pay a price we cannot afford - unless, of course, we could take another loan to pay for the loan we couldn’t afford to pay back in the first place. Isn’t it wonderful? The bank will gladly help us out of a tricky situation. And should they fail to comply, then just turn to the loyal friend who always stays near your heart (in your breast pocket): your credit card. He is so generous; he’ll let you buy whatever you please, and you’ll never have to pay for it. Until later.

Can the politicians and financial lobbyists really be correct: that in order to save our collective economy we must put ourselves in personal bankruptcy?